“Section 10(15)(v)(ii)”
The decision most relied on for Section 10(15)(v)(ii) is CIT v. Yokogawa India Ltd. (341 ITR 385), cited in 270 judgments on BharatTax.
Leading authorities on Section 10(15)(v)(ii)
A provision for doubtful debts cannot be added back while computing book profits under Section 115JB of the Income-tax Act for Minimum Alternate Tax (MAT) purposes.
Decisions holding that an assessee does not exist for a charitable purpose are not applicable if the issue involved in those cases pertains to cancellation of registration under section 12A of the Income-tax Act.
Expenditure incurred in relation to earning exempt income is not deductible, even if no exempt income is actually earned in a particular year. The introduction of an explanation to Section 14A by the Finance Act, 2022, making disallowance applicable even without actual exempt income, is prospective in nature.
